See programs you qualify for

By Tyler Thompson · Licensed Real Estate Agent · Updated October 18, 2026

Homebuyer Programs in Cary, NC (2026)

Population: 188,000 | Median home price: $575,000 | Est. closing costs: $11,500 - $17,500

Cary is one of the largest and fastest-growing towns in North Carolina, located in Wake County just west of Raleigh in the heart of the Research Triangle. With a median home price around $575,000, it is one of the more expensive markets in the state, making down payment assistance especially valuable for first-time buyers. While Cary does not currently offer a city-funded DPA program, and the Wake County Affordable Homeownership Program does not cover homes within Cary limits, buyers here can take advantage of powerful state programs. The NC 1st Home Advantage provides $15,000 in forgivable down payment assistance, the NC Home Advantage Mortgage offers up to 3% of the loan amount, and the Community Partners Loan Pool provides up to $30,000 as a zero-interest deferred second mortgage. Combining these programs, eligible Cary buyers could receive over $60,000 in total assistance toward their home purchase.

State Programs in North Carolina

Program Name	Type	Amount	First-Time Only	Details
Community Partners Loan Pool (CPLP)	Deferred Loan	Up to 25% of the sales price, maximum $50,000	No	View →
FHLBA Community Partners Product	Forgivable Loan	Up to $20,000 in home purchase assistance for down payment and closing costs	No	View →
FHLBA First Time Homebuyer Product	Forgivable Loan	Up to $17,500 in home purchase assistance for down payment and closing costs	Yes	View →
FHLBA Workforce Housing Plus+	Grant	Up to $15,000 in home purchase assistance for down payment and closing costs	No	View →
NC 1st Home Advantage Down Payment	Forgivable Loan	$15,000	Yes	View →
NC Home Advantage Mortgage	Deferred Loan	Up to 3% of the loan amount	No	View →
ReBuild NC Homeownership Assistance Program (HAP)	Forgivable Loan	Up to $30,000 in down payment assistance plus up to 5% of sales price for closing costs	Yes	View →
Self-Help Loan Pool (SHLP)	Zero-Interest Loan	Up to $50,000 (max $35,000 if home is within one of 24 CDBG Entitlement Cities in NC)	No	View →

Community Partners Loan Pool (CPLP)

Type:: Deferred Loan
Amount:: Up to 25% of the sales price, maximum $50,000
First-time only:: No

FHLBA Community Partners Product

Type:: Forgivable Loan
Amount:: Up to $20,000 in home purchase assistance for down payment and closing costs
First-time only:: No

FHLBA First Time Homebuyer Product

Type:: Forgivable Loan
Amount:: Up to $17,500 in home purchase assistance for down payment and closing costs
First-time only:: Yes

FHLBA Workforce Housing Plus+

Type:: Grant
Amount:: Up to $15,000 in home purchase assistance for down payment and closing costs
First-time only:: No

NC 1st Home Advantage Down Payment

Type:: Forgivable Loan
Amount:: $15,000
First-time only:: Yes

NC Home Advantage Mortgage

Type:: Deferred Loan
Amount:: Up to 3% of the loan amount
First-time only:: No

ReBuild NC Homeownership Assistance Program (HAP)

Type:: Forgivable Loan
Amount:: Up to $30,000 in down payment assistance plus up to 5% of sales price for closing costs
First-time only:: Yes

Self-Help Loan Pool (SHLP)

Type:: Zero-Interest Loan
Amount:: Up to $50,000 (max $35,000 if home is within one of 24 CDBG Entitlement Cities in NC)
First-time only:: No

Federal Programs

Program Name	Type	Amount	First-Time Only	Details
FHA Loans	Government-Insured Mortgage	Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)	No	View →
Good Neighbor Next Door (HUD)	Government Property Sale Program	50% discount off the list price of HUD-owned homes	Yes	View →
Home Possible Mortgage (Freddie Mac)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HomeReady Mortgage (Fannie Mae)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HUD $100 Down Program	FHA-Financed HUD REO Purchase	Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.	No	View →
USDA Rural Development Loans	Government-Guaranteed Mortgage	100% financing (no down payment required); loan amount up to appraised value	No	View →
VA Loans	Government-Guaranteed Mortgage	No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)	No	View →

FHA Loans

Type:: Government-Insured Mortgage
Amount:: Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
First-time only:: No

Good Neighbor Next Door (HUD)

Type:: Government Property Sale Program
Amount:: 50% discount off the list price of HUD-owned homes
First-time only:: Yes

Home Possible Mortgage (Freddie Mac)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HomeReady Mortgage (Fannie Mae)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HUD $100 Down Program

Type:: FHA-Financed HUD REO Purchase
Amount:: Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
First-time only:: No

USDA Rural Development Loans

Type:: Government-Guaranteed Mortgage
Amount:: 100% financing (no down payment required); loan amount up to appraised value
First-time only:: No

VA Loans

Type:: Government-Guaranteed Mortgage
Amount:: No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
First-time only:: No

Nonprofit Programs

Program Name	Type	Amount	First-Time Only	Details
Habitat for Humanity of Wake County Homeownership	Zero-Interest Loan	Affordable below-market mortgage (Habitat builds/rehabilitates homes and sells at affordable prices)	Yes	View →
NACA Homebuyer Program	Repayable Loan	No down payment, no closing costs, no fees, plus below-market interest rate mortgage	No	View →

Habitat for Humanity of Wake County Homeownership

Type:: Zero-Interest Loan
Amount:: Affordable below-market mortgage (Habitat builds/rehabilitates homes and sells at affordable prices)
First-time only:: Yes

NACA Homebuyer Program

Type:: Repayable Loan
Amount:: No down payment, no closing costs, no fees, plus below-market interest rate mortgage
First-time only:: No

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17 programs available in Cary. See which ones you qualify for.

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How to Apply

Step 1: Check your eligibility. State programs like NC 1st Home Advantage require household income at or below limits that vary by county and family size, a credit score of 640 or higher, and first-time buyer status (veterans may be exempt).

Step 2: Complete homebuyer education. DHIC offers an 8-hour Bringing Home the Dream workshop in the Raleigh-Cary area. Contact DHIC at (919) 832-4345 to register. This workshop is a prerequisite for many state down payment assistance programs.

Step 3: Get pre-approved with an NCHFA-approved lender. Visit NCHomeAdvantage.com for a list of participating lenders. Your lender will help determine which combination of the NC Home Advantage Mortgage, NC 1st Home Advantage, and Community Partners Loan Pool you qualify for.

Step 4: Explore the NACA Homebuyer Program. NACA offers no down payment, no closing costs, and below-market interest rate mortgages. Visit naca.com to attend a free homebuyer workshop and begin the qualification process.

Step 5: Find a home in Cary. There are no specific purchase price limits for state programs beyond standard FHA, VA, or USDA loan limits. With Cary's median home price of $575,000, ensure your pre-approval amount aligns with your target price range.

Step 6: Submit your applications. Apply for state DPA through your NCHFA-approved lender during the mortgage process. Processing timelines vary, so start early in your home search.

Frequently Asked Questions

How much down payment assistance can I get in Cary?+

While Cary does not have a city-funded DPA program, buyers can stack state and federal programs for significant help. The NC 1st Home Advantage provides $15,000 in forgivable down payment assistance. The NC Home Advantage Mortgage adds up to 3% of the loan amount (up to $17,250 on a $575,000 home). The Community Partners Loan Pool offers up to $30,000 as a zero-interest deferred second mortgage. Combined, eligible buyers could access over $60,000 in assistance.

Why is Cary excluded from the Wake County DPA program?+

The Wake County Affordable Homeownership Program, which provides up to $50,000 in forgivable loans, specifically excludes properties within the Town of Cary and the City of Raleigh. This is due to how federal funding is allocated. However, Cary buyers still have access to all North Carolina state programs and federal programs, which provide substantial assistance.

Do I have to be a first-time homebuyer to qualify?+

Most state DPA programs require first-time buyer status, defined as not having owned a home as a principal residence in the past three years. Military veterans may qualify for NC 1st Home Advantage regardless of prior ownership. The NACA Homebuyer Program and Habitat for Humanity of Wake County are also available to qualifying buyers.

What homebuyer education is required?+

Most state programs require completion of a HUD-approved homebuyer education course. DHIC offers the Bringing Home the Dream workshop, an 8-hour course that satisfies this requirement. Contact DHIC at (919) 832-4345 to register. NACA also provides its own free homebuyer workshop as part of its qualification process.

Are there programs for higher-income buyers in Cary?+

The NC Home Advantage Mortgage is available to buyers with household income up to $158,000, making it accessible to many Cary families. FHA loans require as little as 3.5% down, and VA loans offer zero down payment for eligible veterans. Local credit unions like SECU and Coastal Credit Union also offer first-time homebuyer products with low down payment options.

What are the income limits for NC programs in Wake County?+

Income limits vary by program and family size. The NC Home Advantage Mortgage allows income up to $158,000. The NC 1st Home Advantage has county-specific limits that vary by family size. The Community Partners Loan Pool has separate income limits based on HUD guidelines. Check NCHomeAdvantage.com or contact an NCHFA-approved lender for the most current Wake County income limits.

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